The current account tax is a measure that erodes a large part of the savings that Italians keep in banks. However, not everyone is required to pay for it.
With a serious economic crisis at the gates, one of the first concerns of Italians is certainly the tax burden. There tax on current accounts in particular, it is one of the taxes that weighs heavily on workers in our country and that specifically undermines the ability to save of many people who might prefer to keep more money aside to face rainy days. While other countries such as Switzerland and Germany have long since waived the tax withholding on money held in a current account – which in Italy is equal to 26% in most cases and drops to 12.5% for state bonds – in our country this tax continues to exist, despite some banks such as Unicredit are trying to create a new type of relationship between customer and bank that provides for a different form of payment and smoother.
In any case, the tax on current accounts also has numerous exemptions – like other taxes among other things – which have recently been reminded to all citizens in interpello n.457 of 8 October 2020 which reads: “Employee who transfers money to an account for their employer is exempt from the tax”, as well as those with a declared ISEE of less than 7,500 euros and those with a total sum of money less than 5,000 euros on your own account, even in the case of multiple accounts – as long as the sum is always below this threshold.
A tax almost impossible to evade with a very long genesis: it dates back to 1972 while its last modification even takes us back to Monti Government of 2011. In fact, with the Salva Italia decree, the tax is charged to current accounts at the time of issue of the account statement or statement or, in the absence of the latter, on 31 December of the current year. The payment is carried out by the bank, effectively making tax evasion impossible.
It is important to remind less well-off citizens the exemptions provided for by this tax, especially with the expiry of the fiscal buffers employed by the Conte government to combat the severe economic crisis due to the closures for Covid.
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